COBALT Assists in Landmark Transaction in the Baltic Energy Market
November, 2025 - Estonia
Baltic Storage Platform secures financing of EUR 85.6 million for two battery energy storage system (BESS) projects in Estonia. The project was financed by European Bank for Reconstruction and Development, Edmond de Rothschild Asset Management, and the Nordic Investment Bank.
This transaction marks a milestone in Estonia’s energy sector, being the first fully based on revenues from BESS assets. The financing supports the creation of one of the largest battery complexes in Europe.
Baltic Storage Platform is an Estonian joint venture company between renewable energy developer Evecon, French solar power producer Corsica Sole and an affiliate of Natixis Investment Managers focusing on sustainable investments – Mirova.
COBALT together with Linklaters assisted Baltic Storage Platform throughout the process, from negotiating the facilities agreements to setting up a comprehensive securities portfolio consisting of a wide range of assets.
Our team included Partners Marina Kotkas and Jesse Kivisaari, Specialist Counsel Georg Kuusik, Senior Associate Tiina Ilus, Associate Ken Saksniit , Junior Associate Paul Schifrin and Assistant Lawyer Joosep Lang.
